FAT Brands Inc. (NASDAQ:FAT) Short Interest Update

FAT Brands Inc. (NASDAQ:FAT) was the target of a large decrease in short interest in February. As of February 28th, there was short interest totalling 135,000 shares, a decrease of 34.6% from the February 13th total of 206,300 shares. Approximately 2.7% of the company’s shares are short sold. Based on an average trading volume of 53,200 shares, the short-interest ratio is presently 2.5 days.

Analyst Upgrades and Downgrades

Separately, Loop Capital dropped their target price on shares of FAT Brands from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th.

Institutional Investors Weigh In On FAT Brands

An institutional investor recently raised its position in FAT Brands stock. Northern Trust Corp lifted its holdings in FAT Brands Inc. (NASDAQ:FAT) by 63.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 31,751 shares of the company’s stock after purchasing an additional 12,287 shares during the period. Northern Trust Corp owned about 0.19% of FAT Brands worth $169,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 6.90% of the company’s stock.

FAT Brands Trading Down 2.4 %

Shares of FAT traded down $0.08 during mid-day trading on Monday, hitting $3.27. The company’s stock had a trading volume of 65,888 shares, compared to its average volume of 31,634. The company’s 50-day moving average is $4.25 and its 200-day moving average is $4.85. FAT Brands has a 52-week low of $2.90 and a 52-week high of $8.00. The firm has a market capitalization of $58.18 million, a price-to-earnings ratio of -0.35 and a beta of 1.83.

FAT Brands (NASDAQ:FAT) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($4.06) earnings per share for the quarter, missing the consensus estimate of ($2.68) by ($1.38). The firm had revenue of $145.28 million for the quarter, compared to analysts’ expectations of $157.45 million. As a group, sell-side analysts predict that FAT Brands will post -10.23 earnings per share for the current fiscal year.

FAT Brands Company Profile

FAT Brands Inc, a multi-brand restaurant franchising company, acquires, develops, markets, and manages quick service, fast casual, casual dining, and polished casual dining restaurant concepts worldwide. It owns restaurant brands, including Round Table Pizza, Marble Slab Creamery, Great American Cookies, Hot Dog on a Stick, Pretzelmaker, Fazoli's, Fatburger, Johnny Rockets, Elevation Burger, Yalla Mediterranean, Buffalo's Cafe and Buffalo's Express, Hurricane Grill & Wings, Ponderosa Steakhouse/Bonanza Steakhouse, Native Grill & Wings, Smokey Bones, and Twin Peaks.